For California health insurance shoppers, Health Reform and the Affordable Care Act has brought a range of opportunity for the individual consumer shopping for an affordable California health insurance plan as well as the small group health insurance California business owners have under review for themselves and their employees.
Opportunity has arrived in the form of a mandate for young adults to retain the option of staying on their parents’ health plan until they turn 26; the advent of certain new preventive services added to all new plans sold on or after September 23rd, 2010 and which will be covered by your plan without charging you a copay, co-insurance or deductible – provided that these services are delivered by a network provider; and the creation of a federally funded high risk pool here in California especially designed to help consumers with pre-existing conditions who otherwise may not have had affordable access to health coverage.
Health Reform has also meant opportunity for small business owners who are dedicated to achieving the mutual advantages derived from providing cost-efficient health coverage to employees. Employees with access to affordable health coverage have higher morale, less turnover, lower absenteeism while companies who offer employee health benefits can expect higher employee productivity which is always beneficial to the bottom line.
If you have up to 25 employees (A qualifying employer must have less than the equivalent of 25 full-time workers – for example, an employer with fewer than 50 part-time workers may be eligible), pay average annual wages below $50,000, and provide employee health coverage, your small business may qualify for a tax credit this year of up to 35% (up to 25% for non-profits) to offset the cost of your California health insurance. That is real and tangible help to your business for providing health insurance for your employees!
Further, employer-based plans that provide health insurance to retirees ages 55-64 will be able to get financial assistance through the Early Retiree Reinsurance Program that started in June of 2010. The Affordable Care Act provides financial assistance to employers, to help them maintain coverage for early retirees age 55 and older who are not yet eligible for Medicare.
While there has been opportunity for both the individual and small group health insurance shopper here in California, there has also been challenge in the sense that change can sometimes bring with it confusion or concern that the important information that should be conveyed to the consumer in a clear, concise manner is not reaching the consumer in the way that it should. That’s where your Vitality team of California health insurance professionals comes in: If you have questions or concerns about what Health Reform means for you, your family, even your California small business right here and now or in the weeks, months and years ahead, you can check out our Vitality Blog where you’ll be able to review numerous Health Reform Updates and you can always reach out to our team for an always free, always careful, considerate client consultation that is focused on your unique needs for California health insurance whether your need is for individual or family health coverage or group health insurance California small business owners like you want for their business and their team of valued employees!
